Market Job Description
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services.
Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Centre (DIFC), Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Tokyo, and Toronto.
Wells Fargo Asset Management Luxembourg S.A. (WFAML) was established November 2014 and is governed by chapter 15 of the law of 17 December 2010 on undertakings for collective investment.
WFAML currently serves as management company for a family of UCITS, and its capabilities will be extended to add discretionary portfolio management license.
WFAML also serves as global distributor for our non-U.S. distribution activities.
WFAML is a subsidiary of Wells Fargo Funds Management based in the U.S., which is a line of business within Wells Fargo Asset Management (WFAM).
WFAM currently manages separate accounts and pooled funds for clients located outside the U.S. Our funds are registered in 20 countries.
Further expansion of our asset management capabilities outside the U.S. is a critical growth initiative for WFAM.
The team has a new opportunity for a Permanent Risk Manager to monitor, analyze and recommend resolutions to risk management processes and issues.
Ensure escalation and timely resolution of risks. Ensure proper and adequate monitoring and testing of investment compliance, business processes, and policies as required to achieve risk-
management standards. Consult frequently with the WFAM and risk professionals and Conducting Officers on investment compliance and risk management matters.
Perform due diligence on service providers to whom risk management / investment compliance monitoring and reporting have been delegated to and resolve investment breaches
Ensure appropriate monitoring and review of daily market, credit, liquidity, and operational risks, and escalate non-compliance to senior management
Ensure adequate monitoring of investment eligibility, compliance with fund investment guidelines, and resolve portfolio exceptions
Report investment breach issues and ensure timely escalation and resolution
Create and deliver risk management reports to WFAML's management committee and board, and the fund's board
Ensure adequate monitoring of investment risk metrics, VaR calculations, and assess back / stress tests and other portfolio risk measures
Update the Risk Management Process and supporting policies and procedures at least annually
Prepare ail the regulatory reporting filing in relation to the permanent risk management function
Participate in and lead sections of delegated functional reviews and vendor oversight
Support product development initiatives through reviews of investment strategy, guidelines, and offering documents
Participate in all other projects as required
Implement and test the operational risk control framework and draft and keep updated the risk management policy
Manage and train the team by ensuring appropriate delegation of tasks, 4 eyes controls and maintenance of high quality standards
Work in close collaboration with the WFAM or Group investment and operational risk teams
Foster an environment of continuous improvement and build effective networks to ensure the application of best practices
Fully cooperate with and respond to inquiries from internal and external auditors and regulators.
Market Skills and Certifications
Master degree in risk management, law or business
Extensive continuing professional training
Extensive experience in similar risk management roles
Substantial investment / operational risk management or compliance experience within the Luxembourg fund industry
Expert understanding of Luxembourg asset management rules, UCITS, and AIFMD regulations
Extensive knowledge of investment regulations, risk metrics, and risk measurement applications
Ability to independently evaluate issues and make sound business decisions with minimal oversight
Effective communicator with ability to explain risk issues clearly and succinctly to others
Strong interpersonal and team skills and ability to build solid working relationships with internal and external stakeholders
Manages time effectively to consistently deliver against targets
Ability to work independently and with a team, manage multiple projects and competing priorities
Excellent analytical skills and ability to formulate commercially sound recommendations often under conditions of uncertainty
Strong written and verbal communication and documentation skills
Fluent in English
Good knowledge of French a plus.